ADIO, Mubadala and Roborace sign MoU to advance autonomous driving and metaverse development in Abu Dhabi
ABU DHABI,10th December, 2021 – Abu Dhabi Investment Office (ADIO), Mubadala Investment Company (Mubadala) and Roborace, the world’s first global championship for full-size electric powered autonomous racecars, have signed a Memorandum of Understanding (MoU) to drive innovation in the mobility sector as well as at the crossroads between physical and virtual reality and esports in Abu Dhabi.
Under the agreement, ADIO, Mubadala and Roborace will explore the development of innovative products based on autonomous technologies and Roborace metaverse infrastructure to facilitate faster and wider adoption of autonomous vehicle technology, with a focus on sustainability.
Roborace will review the opportunity to establish its regional HQ in Abu Dhabi, and will also consider the operation of upcoming seasons of its autonomous racing series from and in Abu Dhabi, as well as collaborate with ADIO and Mubadala on the development of its metaverse technology from the testing and simulation of autonomous driving systems in specialised centers of expertise in Abu Dhabi.
ADIO, Mubadala and Roborace are active proponents of the 4th Industrial Revolution, viewing artificial intelligence and the intersection of physical and virtual reality as the backbone of future industries.
The project utilises Abu Dhabi’s world class infrastructure and strategic assets supported by Abu Dhabi Motorsports Management (ADMM) providing access to Yas Marina Circuit and its facilities, as well as Twofour54 as a destination for technology and content production capabilities and office infrastructure for potential incorporation.
The MoU was signed by Badr Al Olama, Executive Director at UAE Investments, in Mubadala Investment Company; Mohammed Al Dhaheri, Head of Infrastructure Partnerships, ADIO; and Chip Pankow, Chief Competition Officer at Roborace.
Commenting on the agreement, Badr Al Olama, Executive Director at UAE Investments, in Mubadala Investment Company said, “We are actively leading the innovation sector, shaping the industries of tomorrow.
Through this strategic MoU, we aim to bring autonomous driving technology to the UAE, and further develop Autonomous Driving Systems and metaverse technologies and applications, laying the foundation of an exciting new sector in Abu Dhabi and aligned with our efforts to diversify the economy of the UAE.
Markus Thomas, Head of Investments, ADIO, added “Roborace is a cutting-edge technology platform that touches many focus areas of ADIO’s drive for innovation – its autonomous racing series provides a testing ground for the most advanced autonomous driving systems encouraging innovation in an ecosystem rather than a single company.
This is fully aligned with Abu Dhabi’s approach to innovation and the emirate’s technology-related ambitions.
Crossing an innovative media and engagement platform with advanced simulation technology in the metaverse advances Abu Dhabi’s gaming agenda while building an access point for a global audience and automotive OEMs alike.
With our strategic Abu Dhabi partners, we are looking forward to making this possible.
From Roborace, Chip Pankow said, “We are delighted to explore mutual opportunities of interest with Mubadala and ADIO, given our interest in advancing the technological and artificial intelligence sector globally.
With this MoU, we are excited to support the UAE’s goals to become a leader in the artificial intelligence and autonomous technology sector.
To showcase the technology, Roborace will be exhibiting one of its autonomous racing cars, and the Guinness World Records Fastest Autonomous Car in the world – Robocar – at the FutrWorld event from December 9-11 at Manarat Al Saadiyat in Abu Dhabi.